ARTICLE | Finance
Wave financing, BioAge IPO help biotech end September strong
In BioCentury’s latest Public Equity Report, Wave raises $200M on standout DMD data and BioAge marks fourth NASDAQ IPO this month
September 27, 2024 10:43 PM UTC
A nine-figure follow-on on the back of DMD data by Wave and another NASDAQ IPO headlined the week in public financings.
RNA company Wave Life Sciences Ltd. (NASDAQ:WVE) parlayed positive Phase II data for WVE-N531 in Duchenne muscular dystrophy into an upsized $200 million follow-on. The Cambridge, Mass.-based RNA company, which was at first seeking a $175 million raise, sold 23.1 million shares at $8 and prefunded warrants to purchase up to 1.9 million at roughly the same amount in a deal underwritten by J.P. Morgan, Leerink Partners, Truist Securities and Mizuho. The deal price is a 2% discount to Wave’s close of $8.19 on Tuesday, before the biotech proposed the offering. Wave finished the week at $8.29...